Square Fee Calculator
Calculate Square payment processing fees instantly. See exact costs for in-person, online, and card-not-present transactions with transparent, flat-rate pricing.
Square Fee Calculator
Square Fee Structure:
- • Fixed fee: $0.10
- • Percentage fee: 2.6%
- • Minimum fee: $0.10
Square has revolutionized payment processing for small businesses since its launch in 2009. Founded by Jack Dorsey (Twitter co-founder), Square started with a simple card reader that plugs into smartphones, making it easy for anyone to accept card payments. Today, Square serves millions of businesses worldwide, from food trucks and coffee shops to online retailers and professional services, with an ecosystem that includes point-of-sale hardware, e-commerce tools, and business management software.
Understanding Square's fee structure is essential for business owners who want to accurately calculate costs and maximize profitability. Square is known for transparent, flat-rate pricing with no monthly fees, setup costs, or long-term contracts for basic services. This makes it particularly attractive for small businesses, seasonal vendors, and entrepreneurs who need flexible payment processing without high fixed costs.
Our Square fees calculator helps you estimate payment processing costs for different transaction types. Whether you're accepting in-person card payments, processing online orders, or manually entering card details, calculate exact fees to understand your true costs and compare with other payment processors like Stripe, PayPal, or traditional merchant services.
How Square Fees Are Calculated
Square uses a simple, transparent flat-rate pricing model. For most businesses, you'll pay 2.6% + $0.10 per transaction for contactless, chip, and online payments. Manually entered transactions (card-not-present) cost slightly more at 2.9% + $0.30. There are no monthly fees, setup fees, or cancellation fees for the basic plan.
Square Fee Structure:
- In-Person (Tap/Chip): 2.6% + $0.10
- Online Payments: 2.6% + $0.10
- Keyed-In (Manual): 2.9% + $0.30
- Invoices: 2.9% + $0.30
- No Monthly Fees: Pay only per transaction
- Instant Deposit: 1.5% fee (optional)
Square's flat-rate pricing means you pay the same percentage regardless of your transaction volume, card type (debit vs credit), or card brand (Visa, Mastercard, Amex, Discover). This simplicity makes it easy to predict costs, unlike traditional merchant accounts with tiered pricing, interchange-plus fees, and monthly statements.
Example Calculations:
Online Sale: $100
- • Transaction amount: $100.00
- • Percentage fee: 2.6% = $2.60
- • Fixed fee: $0.10
- • Total Square fee: $2.70
- • You receive: $97.30
In-Person Sale: $50
- • Transaction amount: $50.00
- • Percentage fee: 2.6% = $1.30
- • Fixed fee: $0.10
- • Total Square fee: $1.40
- • You receive: $48.60
Using the Square Fee Calculator
Our Square fees calculator simulates Square's exact fee structure for payment processing. Enter your transaction amount to see instant calculations showing the percentage fee, fixed fee, total cost, and net amount you'll receive. The calculator helps you plan pricing, understand your effective rates, and compare costs with other payment processors.
Calculator Features:
- Real-time fee calculations
- Multiple currency support
- Transparent cost breakdowns
- Business pricing insights
Perfect For:
- • Retail stores and shops
- • Food trucks and restaurants
- • Service providers
- • E-commerce businesses
- • Mobile vendors
The calculator is especially useful when setting prices for products or services. By understanding your payment processing costs upfront, you can factor fees into your pricing strategy and maintain healthy profit margins. For example, if you want to receive exactly $100 after fees, you'll need to charge approximately $102.80.
Comparing Square with Other Payment Processors
Square's fees are competitive and transparent compared to alternatives. At 2.6% + $0.10 for online payments, Square is cheaper than PayPal (3.49% + $0.49) but slightly more expensive than Stripe (2.9% + $0.30). However, Square's strength lies in its all-in-one ecosystem with free POS software, hardware options, and no monthly fees for basic plans.
Square vs Competitors:
Square Advantages:
- • No monthly fees for basic plan
- • Lower fees than PayPal
- • Free POS software included
- • Simple flat-rate pricing
- • Quick setup and approval
- • Integrated hardware ecosystem
Considerations:
- • Higher than Stripe for online only
- • Account holds can occur
- • Limited international support
- • Hardware costs for card readers
- • 1-2 day deposit times (standard)
Cost Comparison ($100 Transaction):
- Square: $2.70 (2.6% + $0.10)✓ Good value
- Stripe: $3.20 (2.9% + $0.30)± Similar
- PayPal: $3.98 (3.49% + $0.49)✗ More expensive
Choose Square when: you need an all-in-one solution with POS hardware, want to avoid monthly fees, prefer simple flat-rate pricing, or run a brick-and-mortar business. Choose alternatives when: you only process online payments and want the lowest per-transaction cost (Stripe), need extensive international support, or have very high processing volumes that qualify for custom interchange-plus pricing.
Tips to Save on Square Fees
Minimize Costs:
- • Use tap/chip readers (2.6%) vs manual entry (2.9%)
- • Avoid instant deposits (1.5% fee) when possible
- • Factor fees into pricing strategies
Optimize Operations:
- • Use Square's free tools (invoicing, analytics)
- • Batch smaller transactions when appropriate
- • Consider custom pricing for $250k+ annual volume
Alternative Strategies:
- • Offer ACH/bank transfers for large amounts
- • Use Square for in-person, Stripe for online
- • Encourage contactless payments (faster + same fee)
Business Growth:
- • Leverage Square's free marketing tools
- • Use loyalty programs to increase repeat business
- • Contact Square for custom rates at high volume
Pro Tip:
If you process over $250,000 annually, contact Square for custom pricing. High-volume businesses can negotiate lower rates. Additionally, always use card readers for in-person transactions rather than manually entering card details - you'll save 0.3% + $0.20 per transaction (e.g., $0.50 on a $100 sale).
Frequently Asked Questions
How much does Square charge for payment processing?
Square charges 2.6% + $0.10 per transaction for contactless, chip, and online payments. Manually entered transactions cost 2.9% + $0.30. There are no monthly fees, setup fees, or cancellation fees for the basic plan. This makes Square one of the most straightforward and affordable payment processors for small businesses.
Does Square have monthly fees?
No, Square has no monthly fees for the basic payment processing plan. You only pay per transaction. However, optional premium features like Square for Retail, Square for Restaurants, or Square Appointments have monthly subscription fees starting at $60/month. The basic free plan is sufficient for most small businesses.
Is Square cheaper than PayPal?
Yes, Square is significantly cheaper than PayPal for most transactions. Square charges 2.6% + $0.10 for online payments compared to PayPal's 3.49% + $0.49. For a $100 transaction, Square costs $2.70 versus PayPal's $3.98, saving you $1.28 per transaction. Over time, these savings add up substantially for businesses processing regular payments.
How long does it take to receive money from Square?
Square typically deposits funds to your linked bank account within 1-2 business days. For immediate access, Square offers Instant Deposit (available for a 1.5% fee) which transfers funds to your debit card within seconds. New Square accounts may experience longer hold times initially as part of their risk management process.
What hardware does Square offer?
Square offers various hardware options including the free Square magstripe reader (for smartphones), Square Reader for contactless and chip ($49), Square Stand for iPad ($149), Square Terminal ($299), and Square Register ($799). All hardware works seamlessly with Square's free POS software. Most businesses start with the $49 chip reader which accepts all modern payment methods.